Commercial Real Estate & Business News – January 3, 2025

In 2024, the Arizona economy continued to attract historic investments while pioneering new advancements for workers, startups and small business owners, rural communities and more. “2024 represented a year of significant growth and investments to continue growing…»

More renters are staying in their homes longer than they did a decade ago, especially if they are baby boomers. Some 33.6% of U.S. renters have lived in the same home for at least five years, according to a new report from Redfin using 2023 data. That statistic included the 17% of renters who had…»

As the new year begins, we’ve gathered the Top Reports of 2024, showcasing the trends, surprises and standout moments that shaped the U.S. and Phoenix rental market. 2024 is a record-breaking year, with U.S. apartment completions surpassing 500,000 units for the first time…»

A group of investors led by a minority owner of the Phoenix Suns has plopped down $47.2 million in cash for nearly 1,000 acres of land near the proposed BNSF railway project in a fast-growing area of Surprise. An entity tracing to Scott Seldin, a minority owner of the Phoenix Suns, bought 917 acres from…»

Red Development is moving forward with the next phase of Goodyear’s new downtown core, known as GSQ. The Phoenix firm has submitted speculative plans for a new specialty grocery store totaling 13,500 square feet and two restaurants totaling 7,800 square feet at the…»